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Find a Gloucestershire Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Gloucestershire? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Gloucestershire home move at risk of delay or failure.

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Recently asked questions about conveyancing in Gloucestershire

The Gloucestershire conveyancing firm handling our Gloucestershire conveyancing has discovered a difference when comparing the assumptions in the valuation report and what is in the legal papers for the property. My solicitor says that he must ensure that the bank is happy with this discrepancy and is content to go ahead. Is my conveyancer’s approach legitimate?

Your conveyancer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.

Will my conveyancing lawyers need to check that the building insurance for my purchase of a house in Gloucestershire. My lender is The Mortgage Works

The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 24/11/2022, the requirements read as follows :

A colleague suggested that where I am buying in Gloucestershire I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?

A search of this type is occasionally quoted for as part of the standard Gloucestershire conveyancing searches. It is a large document of more than thirty pages, listing and setting out important information about Gloucestershire around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Gloucestershire Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information about Gloucestershire.

I have been on the look out for a leasehold apartment up to £305k and found one close by in Gloucestershire I like with open areas and transport links in the vicinity, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Gloucestershire suitable, so just wondered if I would be making a mistake buying a short lease?

If you need a mortgage the remaining unexpired lease term may be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this.

Can you provide any advice for leasehold conveyancing in Gloucestershire with the intention of saving time on the sale process?

  • Much of the frustration in leasehold conveyancing in Gloucestershire can be avoided if you get in touch lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers.
  • If you hold a share in a the freehold, you should ensure that you have the original share document. Organising a replacement share certificate is often a lengthy formality and slows down many a Gloucestershire conveyancing deal. If a duplicate share certificate is necessary, do contact the company director and secretary or managing agents (where applicable) for this as soon as possible. In the event that you altered the property did you need the Landlord’s approval? Have you, for example laid down wooden flooring? Gloucestershire leases often stipulate that internal structural changes or installing wooden flooring calls for a licence from the Landlord approving such alterations. If you fail to have the approvals in place you should not contact the landlord without checking with your conveyancer first. You may think that you are aware of the number of years left on your lease but it would be wise to double-check by asking your lawyers. A purchaser's lawyer will be unlikely to recommend their client to where the lease term is less than 80 years. It is therefore important at an as soon as possible that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. Many freeholders or Management Companies in Gloucestershire charge for supplying management packs for a leasehold property. You or your lawyers should enquire as to the fee that they propose to charge. The management information can be applied for on or before finding a buyer, thus reducing delays. The typical amount of time it takes to obtain the necessary information is three weeks. It is the most usual cause of frustration in leasehold conveyancing in Gloucestershire.

I acquired a leasehold flat in Gloucestershire, conveyancing was carried out 5 years ago. Can you give me give me an indication of the likely cost of a lease extension? Similar flats in Gloucestershire with an extended lease are worth £180,000. The ground rent is £65 invoiced annually. The lease ends on 21st October 2081

With only 59 years remaining on your lease we estimate the price of your lease extension to be between £20,900 and £24,200 as well as costs.

The figure above a general guide to costs for extending a lease, but we are not able to advice on the actual costs without more comprehensive investigations. Do not use the figures in tribunal or court proceedings. There may be other issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.

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